Algernon Pharmaceuticals Awards DMT Manufacturing Contract to Dalton Pharma for Stroke Program

VANCOUVER, British Columbia, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the “Company” or “Algernon”), a clinical stage pharmaceutical development company, announces that it has awarded the contract to manufacture the active pharmaceutical ingredient and finished product for its formulation of AP-188 (“N,N-Dimethyltryptamine or DMT”), to Canadian-based Dalton Pharma Services (“Dalton”).

Dalton is a Health Canada approved, and FDA inspected, GMP contract provider of integrated chemistry, drug development and manufacturing services to the pharmaceutical and biotechnology industries. Dalton is a class 4 controlled substance licensed manufacturer with Health Canada and has extensive experience in synthesizing psilocybin and tryptamine derivatives.

As work has now begun on the synthesis of DMT, the Company will be filing its pre-IND (Investigational New Drug) meeting request with the U.S. FDA shortly, and has already started work on the planning of its Phase 1 and Phase 2 clinical studies.

“We are very pleased to have appointed Dalton Pharma Services to synthesize our GMP DMT supply,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “Based on positive pre-clinical data, the Company believes that DMT may help treat patients who have suffered from a stroke, which is one of the most devastating injuries a human being can experience.”

DMT Background

N,N-Dimethyltryptamine, or DMT, is a hallucinogenic tryptamine drug producing effects similar to those of other psychedelics like LSD, ketamine, psilocybin and psilocin. DMT occurs naturally in many plant species and animals and has been used in religious ceremonies as a traditional spiritual medicine by indigenous people in the Amazonian basin. DMT can also be synthesised in a laboratory.

At higher doses, DMT has a rapid onset, intense psychedelic effects, and a relatively short duration of action with an estimated half-life of less than fifteen minutes. Like other hallucinogens in the tryptamine family, DMT binds to serotonin receptors to produce euphoria and psychedelic effects. Because the effects of DMT do not last very long, it has been referred to in some circles as the “businessman’s trip”.

Named the “Spirit Molecule” by Dr. Rick Strassman, an American clinical associate professor of psychiatry and DMT research pioneer, DMT has been shown to induce neuroplasticity in a number of key preclinical studies. DMT is believed to activate pathways involved with forming neuron connections and has been shown in studies to increase the number of dendritic spines on cortical neurons. Dendritic spines form synapses (connections) with other neurons and are a major site of molecular activity in the brain.